HTC Reports Q1 Lower Revenues, Net Loss

Taoyuan, Taiwan – HTC posted a double-digit revenue decline and a net loss in the first quarter.

Revenue declined of 22.6 percent to NT$33.1 billion ($1.09 billion) from the year ago period and the company reported a net loss after taxes of NT$1.88 billion ($62.1 million) compared with a year-ago profit.

The first-quarter operating loss contrasts with a year-ago operating profit of NT$43.4 million ($1.43 million).

Net losses of NT$1.88 million ($62.1 million) after taxes compare with a year-ago net profit of NT$85.1 million ($2.8 million) and a fourth-quarter profit of NT$310 million ($10.2 million), which was the result of a one-time sale of the remaining shares it owned in Beats Electronics.